ATTRITION
Attrition, or employee turnover, is a growing concern for many companies around the world. It is the process of employees leaving a company for various reasons such as better opportunities, dissatisfaction with the job, or personal reasons. The attrition problem can have a significant impact on a company, including increased costs due to hiring and training new employees, decreased productivity, and reduced employee morale.
When employees leave, they take their knowledge, skills, and experience with them, which can result in a loss of valuable intellectual capital for the company. Furthermore, the process of hiring and training new employees can be costly and time-consuming. This can negatively impact the company's bottom line and affect the company's ability to remain competitive in the market.
Additionally, high levels of attrition can create a negative workplace culture and reduce employee morale. This can lead to decreased productivity and increased absenteeism. Ultimately, the attrition problem can have far-reaching consequences for a company's success and sustainability.